Despite varied statistics, the AUD/USD pair is resuming its upward trajectory.
The Australian dollar, in tandem with the US dollar, is displaying strength this Tuesday, with the current AUD/USD exchange rate at 0.6593.
The morning data from Australia painted a mixed picture. On the positive side, the Westpac consumer sentiment index for December saw a 2.7% increase, bouncing back from a previous dip of 2.6%. This development is likely attributed to a slowdown in inflation, offering a positive note.
However, the NAB business confidence index took an unexpected downturn to -9 points in November from the preceding -3 points. This decline raises eyebrows, especially during Australia's peak business season.
In summary, the AUD is evidently leveraging a hiatus in the USD strengthening trend, consolidating and strengthening its position.